Ethereum [ETH] Network Is Losing To New Projects - Report.

Ethereum [ETH] Network Is Losing To New Projects - Report.

2019-03-30 | Selina Mathew

Ethereum [ETH] Network Is Losing To New Projects - Report.

In line with a recent report published by ‘Bloomberg’, the Ethereum developers are losing losing hold on the the Ethereum's [ETH] network as they switch to other projects.

Ethereum, was launched earlier in 2015 and offered a platform on that helped developers to build DApps [Decentralized Apps], conduct ICOs [Initial Coin Offerings] and write smart contracts. However, the market also saw it as being the next successor to the leading cryptocurrency Bitcoin [BTC].

As per the report, developers are presently opting for other different platforms like Eos [EOS] and Stellar [XLM]. Earlier in Jan., solely 28% of DApps users were on the ETH network, while the Eos [EOS] network saw around 48% and Tron [TRX] accounted for 24%.

Kyle Samani - the co-founder of hedge fund Multicoin Capital Management added “The straightforward reality is that till the last six-to-nine months, there have been no other choices/options besides Ethereum [ETH] but however, now there are.”

Ikigai cryptocurrency hedge fund founder named ‘Travis Kling’ added, “Owning Ethereum [ETH] nowadays is a decision possibility on what you're thinking the network goes to be within the future. To the extent that ETH contender projects get traction with developers, with users, with DApps designed on top of the platform, which will be viewed by the market as being detrimental to the overall worth of ETH, and which can have a negative worth impact on Ether."

Moreover, others say that Ethereum’ [ETH] block speed of roughly 'thirteen seconds' is getting down to lag behind the other networks, that might supposedly ensure transactions within a second.

Bloomberg added that the bulk of token offerings are still reportedly conducted on the Ethereum [ETH] network, and its dedicated base of developers can keep it competitive. A member of the ETH Foundation reportedly added:

“The actual shining factor about Ethereum [ETH] is its vibrant community. Everybody keeps building and supporting the cause neglecting the markets. All of the recent progress on Plasma and Serenity (Eth2) really speak thereto. ”

Even earlier this weekend, Ethereum’ [ETH] co-founder named ‘Vitalik Buterin’ 'argued' that the crypto community ought to evolve on the far side of the individualism associated with its recent cypherpunk days.

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