We can see Ethereum made a historical record processing one million unique transactions in a 24-hour period.
The digital currency already processes more transactions than all other digital currencies combined. The one million transaction milestone seemed inevitable in some ways. This rising effect reached its highest point with CryptoKitties. It is a ethereum based game, recently gaining popularity in network.
The high volume of transactions could have significant impact on the future of the fintech industry, as it signifies growing adoption and reaffirms the need to future-proof the currency’s supporting technology.
Handling Transaction Volume on Ethereum
The co-founder of Ethereum Vitalik Buterin and other experts agree that in current state the platform cannot sustain its growth. The network uses huge amount of energy and it continues to grow because daily transactions are increasing in number.
Regardless, in the battle to inspire global adoption, Ethereum processing more transactions is good news for the currency. Buterin and his team have a plan to gain the same transaction capacity as Visa within a few years.
The Great Popularity Contest
Ethereum surpasses all other currencies by amount of transaction volume. However, Bitcoin still remains world’s leading digital currency, thanks to its high value and market capitalization.
Ethereum saw a significant rise in price over the last few months, and its developers intend for it to become far more than just a measure of value. Many exciting projects are backed by Ethereum’s blockchain. The platform proved itself on the global market. It seems that main adoption of asset is on the horizon.