A new research from Kevin Rooke, who is a famous researcher and YouTuber, has unveiled that the Ethereum community has more than 250,000 developers so far – 94 of which are involved in the top 100 blockchain projects launched on top of the ETH network.
As Rooke said in his newest video:
“You simply cannot build excellent applications and products without a big developer base behind you. But today, Ethereum has roughly 250,000 developers building on its platform. The industry is still really small [and thus], 250,000 is a shocking number. Ethereum’s development framework called Truffle already has more than 500,000 downloads and even through the price fall of 2018, development interests have continued to rise,”
The big question now is if any other decentralized application protocols can compete with Ethereum. When it comes to the answer, payment-focused blockchain networks like Bitcoin, Ripple, Bitcoin Cash and Litecoin are also built on top of the Ethereum protocol – and many others.
So, the truth is that it is very hard to compete with Ethereum’s potential. Aside from the biggest cryptocurrencies, the Ethereum network also hosts the $2 billion China-based IoT blockchain network VeChain, $1 billion high-performance blockchain Ontology, $900 million South Korea-based ICON, and the $850 million Sharding-focused blockchain project Zilliqa.
As such, Ethereum has ‘won the race’ when it comes to becoming the leading smart contract platform out there, as Rooke explains:
“How do you get developers when you don’t have anyone using your platform? How do you get using your platform when you don’t have developers who are going to build that underlying infrastructure to make it easy to launch applications? In some ways, money can kickstart the process but in crypto today, everyone has money, including Ethereum, so that cancels out the competitive advantage.”
You Can Swap Leftover Euros For Bitcoin At The Amsterdam Airport
The international airport in Amsterdam named ‘Schipol’ has recently installed a cryptocurrency ATM that lets any passenger convert their Euros into Bitcoin or Ethereum.
The airport revealed the new system in an announcement on Wednesday, where it assessed the demand for the two most prominent cryptocurrencies over a six-month trial in an initiative that is the first of the kind in any European airport.
With a strategic location right near the airport’s departures terminal, the ATM lets outbound travelers convert the remainder of their Euros into one of the two largest cryptocurrencies by market cap. The exact location of the ATM is the Arrival Hall 2 which can also be accessed by the corridor to Departure Halls 1 and 2 – places where there is a frequent flow of departing passengers.
According to the director of consumer products and services at the Amsterdam Airport Schiphol, Tanja Dik:
“With the Bitcoin ATM, we hope to provide a useful service to passengers by allowing them to easily exchange ‘local’ euros for the ‘global’ cryptocurrencies Bitcoin and Ethereum. That can be beneficial if, for instance, it’s not possible to spend euros in their home country.”
Right now, the 2-way ATM accepts euro bills and has been installed in a partnership with ByeleX which is a Dutch software services company that offers crypto ATMs through a subsidiary named ‘Byecoin’.
The concept of allowing travelers to use cryptocurrencies at airports definitely negates the hassle of heightened conversion fees if the fiat money is being exchanged for any other national currency.
Meanwhile, the airport in Amsterdam is not the first one on the list to be linked to cryptocurrencies. Australia’s Brisbane airport – which is the country’s third busiest one by passenger traffic – also introduced crypto payments at a number of retail establishments earlier this year.
Crypto Market Rebounds After SEC Clarifies Bitcoin And Ethereum as ‘Not’ Securities
The cryptocurrency market just rebounded from the bad week, and rose from $271 billion to $284 billion in the past 24 hours, mostly following the news by the US Securities and Exchange Commission (SEC) clarifying that Bitcoin and Ethereum are not considered as securities under the law of US.
The Director at the Division of Corporation Finance at SEC, William Hinman, was the bearer of good news during the Yahoo Finance All Market Summit. At the event, he emphasized that Ether and Bitcoin are not securities as they do not benefit a single organization or a company.
Hinman also touched ground about Initial Coin Offerings (ICOs) of Ethereum in 2014, which led the investors present to become concerned about the regulatory aspects of Ether. However, he also added that despite its decentralized structure, Ethereum is currently eliminating the possibility of categorizing Ether as a security.
As Hinman explained:
“And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions. And, as with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in Ether would seem to add little value,”
Right after Hinman’s speech was released, the price of Ether surged by 12% going from $464 to $524. This clarification by the SEC definitely gave Bitcoin and Ethereum some breathing room.
Still, nobody can go against the downward trend of the major cryptocurrencies in 2018. In just a few months, the total market cap lost hundreds of billions and the short-term stability was also pointed out by SEC as the key role in the mid-term price movement of both Bitcoin and Ethereum, as well as other cryptocurrencies.
ETH Below $500 And BTC Below $6,500 In A Downward Turn For The Crypto Market Leaving
Over the past 24 hours, it is evident that there is a major downward turn in the cryptocurrency market, forcing the price of Bitcoin to go below $6,500 and the price of Ethereum to go below $500 accordingly. This makes the Bitcoin price one step closer to its year-to-date low.
Even though the day started well and some of the major cryptocurrencies took an upswing after the ‘Bloody Sunday’ where more than $40 billion was wiped off the cryptocurrency market cap, it seems like the market failed to sustain the brief recovery.
Everything began in the morning, starting from the Ethereum price which fell below the psychologically significant $500 mark and the price of Bitcoin which fell to less than $6,500 (and is still sinking).
The market cap has lost more than $50 billion with this drop – sinking the major cryptocurrencies below their support points. No one knows what is the precise trigger for this decline – or until when will the major cryptocurrencies sink.
What we know is that many bullish predictions have been made about institutional investors entering the markets over the past couple of weeks – and everything failed to materialize with actual investments and actual news.
Currently, the price of Bitcoin is valued at $6,303 and the Ethereum price sits still at $459.
People Searched For “Ethereum” On Google More Than 110 Million Times
We all know that Ethereum has a massive impact on blockchain development since its founding in 2015. As such, nowadays it is really hard to imagine what blockchain and cryptocurrency would be like today without it.
According to a recent research by ConsenSys, which is a blockchain venture production studio that builds decentralized apps (dApps) on Ethereum, the word “Ethereum” has been referenced in more than 110 million searches on Google in the past two years alone.
On top of this, #ethereum gets tweeted 20,000 times daily and the ETH network so far has processed about 240 million transactions. The record was January 4th when the network set an all-time high of 1.3 million transactions in 24 hours.
On top of this, there are nearly 17,000 nodes operating the Ethereum blockchain on six continents – easily making it the most decentralized blockchain platform. When it comes to the number of active addresses, January 4th is again the date when this number exceeded 1 million and created a record of more than 350,000 new addresses in 24 hours.
Ethereum is also a platform that is most involved with smart contracts. These are being one of the most dynamic tools in technology today – and 94% of the top 100 tokens based on market cap are build on Ethereum (with 87% of the top 800 tokens).
All of this makes Ethereum the largest blockchain developer community. Many foundations, organizations, businesses and startups have joined alliances to benefit from the Ethereum ecosystem which is the most visible ever since it expanded to more than 500 members in one year, becoming The Ethereum Enterprise Alliance.
On top of this, many governments looking to utilize blockchain technology have used Ethereum – such as the names of Brazil, Canada, Switzerland, Chile and Estonia.
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