2017 State Of Blockchain
CoinDesk Research has released a new report entitled Q1 2017 State of Blockchain.
Photo from CoinDesk.com
An article posted on CoinDesk today, June 8, 2017 highlights some of the key findings of the report with a focus on the Bitcoin “scaling debate”.
The article states in regards to Bitcoin that…
“Transaction numbers, block sizes and transaction fees on the bitcoin blockchain each reached all-time highs in the first quarter of 2017, proving the demand to use the network is now larger than ever.”
This is supported by three charts provided in the article.
1.Nearly 300k transactions occurred on the bitcoin blockchain every day
2. Increased transactions lead bitcoin blocks to average 92% of their 1 MB capacity
3. Rising transaction volumes and block sizes lead fees to average over $.60 each
The article comes to a very clear and concise conclusion…
“Without a doubt, the bitcoin network is now more congested than ever.”
The report is not limited to studying Bitcoin’s scaling issues, in fact the report provides a great amount of insight into the entire cryptocurrency sector.
A few of the other key findings I found interesting are as follows…
The report is a 124 page PDF, this is only a very small portion of the information in the report.
I would encourage you to read the original CoinDesk article as well as the Q1 2017 State of Blockchain Report in its entirety. I would also like to thank CoinDesk for their research, analysis and pursuit of understanding. This report is a great tool for all of us involved in cryptocurrency.
Be sure to check out this report and the other resources on CoinDesk.com
The full report can be downloaded in PDF format with the following link…
Click here to download the slides as a PDF.
Sources
http://www.coindesk.com/bitcoins-network-congestion-in-3-charts-transactions-blocks-fees/
Jun 8, 2017 by Alex Sunnarborg
http://media.coindesk.com/uploads/2017/06/state_of_blockchain_q1_2017.pdf
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Thanks for this, have downloaded and will read. I appreciate you posting this resource. Hope you're having a great day!
No problem! It is a great resource, really interesting material. Thanks, same to you!
I would not use Ether as a currency. Believe that Vitalik said is it no currency, plus it does not seem like a sound store of value.
In my opinion the "state of Blockchain" is the same shape as in the End of 2017, but the hype has gotten even bigger, market cap is even higher (100 billion $), and the bubble has gotten more inflated.
Be weary, the sweet illusion will soon fade and the technology of many projects will have to prove itself.
I don't think the entire sector is in a bubble, but I do think there are some projects that are. Basically any ICO any crypto is seeing huge gains, I expect to see a time in the near future where the cryptos with real communities and utility separate very noticeably from the garbage projects.
agreed! go monero ;)
I think Monero has a future, it is in many ways leading the way for privacy and cryptography in the sector.
if you consider the problem of fungibility, you quickly realize that monero is the answer. it is truly digital cash.
great community and tech, in my opinion.
That's alot to process. Thanks for sharing @digicrypt
Yes it is, a lot of information!
Hello my friend
Post is great .. Thanks for sharing
You are very welcome!
Reaaly amazing
Thank you
Thanks for sharing those facts. Your post is really informative, @digicrypt!
Thanks for reading! :)
Bitshares, steem and soon EOS are the blockchains with the most advanced technology. Even between the crypto adepts, they are underestimate, but I'm sure that they are the future of the blockchain industry ! I think bitcoin approach to his limit (For me, it was just a prototype, the first one) and better blockchains are gonna take the lead. Ethereum didn't have the chance to prove it self yet. This year and the beginning of the next one will tell what it really worth.
In my opinion, for smart contract EOS will be more effective. Ethereum should focus more on technical applications, like a decentralized super-google ! It's a really good move to make the transition to a Proof of Stake consensus !
I think you are right graphene based systems have the potential for a great future. It will be interesting to see what the future holds for BTC, I believe it could be used more for a store of value or large settlements rather than everyday transactions, we will see. Thank you for sharing your thoughts!
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