Important news for Ethereum enthusiasts and supporters that see that the network is processing more than 1 million transactions per day, as in the past. The Ethereum community has been also discussing about possible scalability options in order to face a growing demand.
1 Million Transactions Per Day
Ethereum is being used more and more by many users all over the world. According to transaction charts the Ethereum network has handled more than 1 million transactions on May the 4th, a number seen for the last time at the beginning of February.
Since April, the number of transactions started to grow again, reaching its peak just some days ago. And the trend does not seem to stop. On May the 8th, over 820k transactions were registered. If nothing strange happens, in the next days or weeks we could see Ethereum processing a similar amount of transactions as in January, 2018 – between 900k and 1.2 million per day.
It is important to mark that the Ethereum community has been discussing about possible scaling solutions for the network. At the beginning of January, Ethereum faced slow transaction times and higher fees due to the high number of transactions processed by the network.
During the last months, some newer platforms tried to gain attention saying that they were Ethereum’s contenders. Among these platforms we can mention EOS and TRON, but none of them was able to register more than 40k transactions per day.
Justin Sun, founder of the Tron Foundation tweeted the main differences between Ethereum and Tron. And Vitalik Buterin answered him saying that Tron did not even write a proper white paper.
8. Better white paper writing capability (Ctrl+C + Ctrl+V much higher efficiency than keyboard typing new content)
— vitalik.eth (@VitalikButerin) April 6, 2018
Ethereum is one of the most important blockchain platforms in the market and its native currency Ether (ETH) is the second most important in the market. At the moment of writing this article, each Ether can be bought for $748 dollars and it has a market capitalization of $74.33 billion dollars.
With these information, Ethereum shows that is being chosen as a blockchain platform by several developers and companies.
