Annual report on the evolution of the blockchain industry in 2017

Annual report on the evolution of the blockchain industry in 2017

Coindesk publishes the 2018 report on the evolution of the blockchain industry over the past year.

Published on Wednesday, the report includes a comprehensive analysis of blockchain technology, ICO, transactions and investments, regulations and conclusions on the evolution of the crypto market in 2017.

The data collected from the approximately 3,000 Coindesk questionnaires revealed one of the most interesting aspects of the cryptocurrency market: it developed without resorting to credit.

Although it has often been accused of being a bubble, the cryptocurrency market has risen by nearly 1300% over the past year without users resorting to major loans (or if they have done so very quickly). This is probably one of the reasons that gives it some stability (unlike the real estate bubble, which was based on massive mortgage loans).

Another conclusion is that the market has diversified: if in January 2017 bitcoin transactions accounted for 90% of the crypto market, launching the ERC-20 application made ethereum gaining a lot of users and a growing market share, also facilitated by uncertainty with SegWit’s adoption and confusion about the bitcoin and bitcoin cash separation.

Ethereum’s popularity increased enormously over the past year, largely due to the fact that most of the launched ICOs use the ERC-20 standard. Ethereum also managed to manage network agglomerations better than bitcoin by implementing the Byzantium bifurcation.

2017 could have been a collapse of the bitcoin market after China banned ICOs and then the cryptocurrency exchanges. However, the “bulls” almost did not notice the exit of the biggest player since South Korea immediately occupied the niche with the largest volume of cryptocurrency transactions.

Coindesk’s report contains over 160 slides with interesting information and can be downloaded for free.

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