Bloomberg - Ethereum at Capacity due to Tether

We all remember the days when the Ethereum network becamed jammed due to its high utilization at the peak of the bull market in 2017 and early 2018. Dapps like CryptoKitties were filling up the blockchain with their innovative Non Fungible Tokens as the demand for the digital assets could not be higher. In addition, the boom of the Initial Coin Offerings were utilizing a large amount of network resources. This led to high transactions fees which some say led for technology projects to rethink the scalability of the Ethereum network. While it eventually subsided, it also had the secondary impact of new blockchains coming to market to compete for the Dapp platform alternatives like EOS, Tron, and Cardano.

As the worst of the bear market has gotten behind us, Dapps have continued to build and develop on the network but it is once again getting backed up as the interest to participate in the Cryptocurrency markets has drawn an increased demand to one particular and controversial ERC-20 token, Tether. Tether's market capitalization has reached $4 billion which places it as a Top 10 digital asset. In addition to utilizing a high amount of exchange volumes, Tether is utilizing a large amount of resources on the Ethereum Network. It is the largest paying token with regarding to fees as it fluctuates around $250k on a monthly basis.

This has led to some concerns on the ability to not only scale quick enough but also continue to attract developers given the ambitious goals of the Ethereum Foundation. However, development has continued on the upgrade coming which include staking and sharding which will add scaling. Given the continued attractiveness to develop on the longest standing Dapp platform and proven token creation network, they may still have time to get back into the leadership position in the blockchain side.

Discord: @newageinv#3174

Chat with me on Telegram: @NewAgeInv

Follow me on Twitter: @NAICrypto

The following are Affliate or Referral links to communities that I am a part of and use often. Signing up through them would reward me for my effort in attracting users to them:

If you are like me and interested in continued personal growth, invest in yourself and lets help each other out by leveraging the resources Minnowbooster provides by using my referral link

Start your collection of Steem Monsters today at my referral link

Try the Partiko Mobile app to engage while on the go with my referral link

Get started on the latest game on the blockchain Drug Wars by signing up here!

If you select one of my above referral links, I will sponsor a @steembasicincome SBI in return. Let me know if you do so in the comments below!

_{^{DISCLAIMER: The information discussed here is intended to enable the community to know my opinions and discuss them. It is not intended as and does not constitute investment advice or legal or tax advice or an offer to sell any asset to any person or a solicitation of any person of any offer to purchase any asset. The information here should not be construed as any endorsement, recommendation or sponsorship of any company or asset by me. There are inherent risks in relying on, using or retrieving any information found here, and I urge you to make sure you understand these risks before relying on, using or retrieving any information here. You should evaluate the information made available here, and you should seek the advice of professionals, as appropriate, to evaluate any opinion, advice, product, service or other information; I do not guarantee the suitability or potential value of any particular investment or information source. I may invest or otherwise hold an interest in these assets that may be discussed here.}}

Source of shared Link

---