Joseph Lubin Said Ethereum Adoption is Growing Rapidly

In nearly each area, Ethereum, the biggest sensible contract blockchain protocol in the world, looks to be growing at an exponential rate.

According to Joseph Lubin, the co-creator of Ethereum and the founder of ConsenSys, a blockchain software studio based mostly in new york that houses 1,000 developers:

"Blockchain is more than a market. It’s a movement. Market cap doesn’t refleft (sic) activity. Decentralized networks are growing. 10 billion daily API requests served by Infura. 1 million Truffle downloads. 1 million MetaMask downloads. 12,000 live Ethereum nodes. 48 million distinctive Ethereum addresses. 3 times LinkedIn blockchain job openings.”

Truffle, Infura, MetaMask, Nodes, Jobs

Ethereum's 3 major products Truffle, Infura, and MetaMask, usually known as “TIM” by the community, serve as the backbone of the infrastructure encompassing the asset.

Truffle is an Ethereum blockchain development framework that permits developers to create blockchain products. Infura is a node infrastructure that processes requests on popular applications. MetaMask is the most widely used Ethereum and ERC20 wallet, that runs on Infura.

On November four, it was reported that the 3 blockchain tools achieved major milestones. MetaMask launched a mobile consumer, Truffle secured 1,000,000 downloads, and Infura surpassed 10 billion requests.

Despite the bear market during which Ethereum lost 92 % of its worth from its peak on January 13, the user base of the blockchain protocol has increased considerably and also the infrastructure supporting the ecosystem has strengthened quite noticeably.

ConsenSys founder Joseph Lubin emphasized that the usage of Ethereum in developing countries just like the Philippines has began to increase, with the Philippines connecting rural banks via a crypto-cash payment system, an initiative led by one of the country’s most influential banks, Union Bank.

Considering that the Ethereum ecosystem has continued  to grow throughout the past eleven months irrespective of the poor performance of major cryptocurrencies, Lubin expressed that he remains optimistic in the long-run growth and trend of Ethereum:

"I believe in blockchain technology because of the people behind it. The developers, engineers, and technologists who build. The smart contract experts who audit and secure the code. The designers who care deeply regarding user experience. The marketers who tell the story of Web3.”

Projects appear to be on the identical Page as Lubin

While the common narrative on the decline in the Ethereum worth throughout 2018 remains as the sell-off of ETH by initial coin providing (ICO) projects, a recent report has disclosed that ICOs haven't actually sold-out a giant portion of their ETH.

Apart from a specific portion of ETH raised from the token sale, most ICOs appear to be holding a reasonably massive portion of their holdings in ETH.

Marat Garafutdinov, an analyst at HASH CIB, wrote:

"Given the data we have, we are confident to say that ICO projects reacted to the market conditions, rather than dictated them.The treasuries currently still hold a minimum of 3.4% of the total ethereum supply. Our findings have been confirmed by separate researchers. And contradicted by some — most probably, due to reporters equalling all of the ETH moved to ETH directly sold.”

The cryptocurrency sector has experienced the bubble-crash-build-rally cycle five times in the past 9 years. But, each year, the market saw a major quantity of work, resources, and capital come in to support the following wave of investors, developers, entrepreneurs, and projects.