Ethereum Triples in Transactions Over Bitcoin and XRP
On the 17th of July, Ethereum’s total transactions climbed three-fold over Bitcoin. Ethereum completely a total of more than 700K transactions, trumping Bitcoin and its 200K plus transactions. In addition, the second leading currency climbed over XRP and it’s 513K transactions.
Since 2017, Ethereum and XRP were consistently head to head in terms of the most transactions concluded. XRP was the dominant currency in October, reporting almost one million transactions in total. Ethereum barely broke past 300K and Bitcoin fell in last between the three, coming in at 203K. During the end of 2017, Ethereum slowly climbed its way back to replace XRP.
Transaction information and higher volume may point wards currency application and acceptance as well as granting a closer look at how the community chooses to use blockchains and digital coins. Bitcoin is officially known as the oldest and most consistent blockchain as of today with a finite supply of tokens and its value storage, making it as distinguished as it is.
Although as more currencies and technology are accepted and the new Lightning platform designed to simplify Bitcoin’s usage, the digital currency may lose its number one spot.
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Although Ethereum has suffered in the last few weeks after allegations of an intentional traffic jam by some user resulted due to the much slow transactions as part of the network’s jam, the cryptocurrency remains in the lead by the number of transactions.
As a hub for decentralized applications on its platform, Ethereum’s transaction traffic is constantly at a high rise. The blockchain hosts more than 1500 dApp’s and more than 100K digital coin contracts. More decentralized applications are consistently joining the network after several companies including Augur and Tron, both of which left the platform to create their own.