Ethereum’s blockchain-based network is seeing a major rise in applications. While everyone was distracted by Bitcoin’s impressive ride, it seems Ethereum was slowly making significant progress.
Data from Truffle has shown that more than 200,000 developers have downloaded the program to build and deploy their own decentralized applications. Ethereum, like Bitcoin, is a distributed public Blockchain network. However, the two are different in their purpose and capabilities. Bitcoin Blockchain is specifically designed for peer-to-peer electronic cash payments, while Ethereum has a wider range of applications.
Ethereum Blockchain can be used to run the programming code of any decentralized application. Developers can create any operation they want, thus enabling them to build thousands of different applications for different purposes. Ethereum was also the first platform to introduce smart contracts, a self-operating computer program that runs without any third party interference and greatly minimizes fraud risks.
Truffle is a popular development framework for Ethereum. Programmers use truffle to deploy smart programs across various public and private networks. The number of users has increased by about 60% over the last three months, showing a substantial growth in interest towards the blockchain-based platform. Various meetings and cryptocurrency-related conferences, taking place all around the world, have also indicated impressive growth in Ethereum community.
This means big things for Ether, Ethereum’s crypto coin, as well. Experts believe that the progress in a cryptocurrency’s value varies directly with the developer activity around it. Digital currency having a stronger team of developers behind it is likely to attract more investors, as it will prove to be more reliable in the long run.
The Ethereum network is the only public blockchain that holds the record for the highest number of transactions on a daily basis, leaving behind Bitcoin, Bitcoin cash, Ripple, and all other virtual currencies. The Ethereum Foundation has introduced a number of creative scaling solutions over the past few months. This includes Plasma, Casper, and sharding. The network aims to provide both on-chain and off-chain scaling in the future with second-layer solutions.
Truffle: Developer activity around Ethereum blockchain rises
While everyone was distracted by Bitcoin’s impressive ride, it seems Ethereum was slowly making significant progress. Data from Truffle has shown that more than 200,000 developers have downloaded the program to build and deploy their own decentralized applications.
Published on Nov 27, 2017 16:03 By Danish Yasin