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Blockchain Stats and Future Trends

Blockchain Stats and Future Trends

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Blockchain Stats and Future Trends

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Since the crypto bubble pop of 2018, the market has seen continuous growth. As blockchain infrastructure improves so does the Dapps using it. In the article, we will be taking a look at the current industry stats in blockchain and potential future trends ahead.  

 

Growth Since the Crypto Bubble Pop

 

When we take a look at the current market size according to Coinmarketcap, crypto represents over $302 billion. When you compare that to the total size of the global stock market (90 trillion) it’s extremely small. Crypto right now only represents 0.34% of the total stock market. But for those excited about the industry, it goes without saying there is plenty of room for growth.  


 

 

Growth of the crypto market shows a 300% increase since its 2018 lowest point


 

In 2018, the lowest point from the crypto bubble was on December 16, 2018, when the market cap was just over $102 billion. That’s overall roughly a 300% increase as of February 2020. 

 

More Developers in the Market

 

One stat that is often overlooked is the number of developers working on and building upon the blockchain stack. This can also indicate how the market will fair as it’s quite simple. More developers mean more products, which entails more usability reach.  


 

                   Stats up until August 2019 shows overall growth

 

In the last 5 years, the market has seen significant developer growth. Around 800 in 2015 to 6,842 in August 2019. It’s important to note that there was a slight dip. Until the next report, understanding what will happen in 2020 will be closely monitored. The good news, full time developers increased by 13% from the summer of 2018 to 2019. 


 

So what coin/token system has the most developers?

 

Ethereum right now has 4 times more developers than bitcoin which is in second. Projects that allow Dapps to build upon using smart contracts brings in the most development talent. 

 

When will Mass Adoption Occur?

 

First, we need to understand what mass adoption is. With the crypto industry only representing 0.34% of the global stock market, it’s clearly not yet. But one way is by looking at payment options such as Paypal which is considered to have gone global. 

 

Paypal has roughly 305 million registered users as of Q4, thus representing 6.7% of all internet users. When you compare it to the blockchain sector’s 29 million users as of 2019, there are still significant strides that need to be made. 

 

So lets say, the next 5 years show the same growth results of 806.25% in 2015 when the market was just over 3 million users. That means, the market will have 250 million, just shy of Paypal’s size. Therefore, from those stats we are looking more like 2026 to consider blockchain to have any mass adoption.

 

During the 2001 internet bubble pop, it took until 2015 to reach the same market height at $1.7 trillion. Taking almost 15 years to recover. Due to exponential technology growth year by year, we could assume a much faster time for crypto to reach it’s 835 billion height as of January 2018. At the current rate when calculating the 300% growth from December 2018 to now, shows it could reach it some time in 2022. But of course that is a what if, as we cannot predict the future. 


 

Dapps Stats 

 

According to StateoftheDapps, which does not account for all that is on the market, but comes close. The amount of live dapps are growing year by year. With the exception of the amount of new Dapps declining in 2019.


 

                     Current live Dapps has reached a total of 3,322


 

Clearly the success of the Dapp market is what will drive adoption. Dapps bring the user interface for people to spend and use crypto within a service/business application. Although speculation can always increase crypto’s market cap, real use comes from this sector.


 

Here at CryptoTask we are building a freelance Dapp that is connected to the Aeternity blockchain system. We look to be significant player to help bring blockchain into mass adoption.


 

What is Cryptotask.org?

 

CryptoTask (CT) is a decentralized freelance market ecosystem skipping 3rd party fees by directly connecting hirees and applicants peer to peer. CT uses a commercially scalable consensus mechanism with a reviewer board selection built into the blockchain. This means job disputes are resolved much faster and cheaper, while your reputation is stored on the blockchain and there is no arbitrary censorship or hidden tampering, such as hidden boosting, something that centralized platforms are infamous for.

 

Enjoyed what you read?

 

Make sure to check out our beta platform where you can sign up and start applying for job roles. You can also follow us on Telegram & Twitter to keep up to date with the project developments. Thanks for reading!

Cheers,

CryptoTask Team

    





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5 days ago

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1 week ago

It's very good post which I really enjoyed reading. It is not everyday that I have the possibility to see something like this.
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1 week ago

Reshma Pandit new user

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3 weeks ago

Reshma Pandit new user

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3 weeks ago

Reshma Pandit new user

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3 weeks ago

Thank you for sharing this data.  The numbers and overall progress seems pretty good (post dip) and it is good to see a return to more stable numbers with a hope for continued growth.  It sounds like you are looking to the future and partnering effectively to help get there.   I look forward to seeing this develop!

1 month ago

Tom Usborne new user

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1 month ago

Lite Liger new user

Crypto Enthusiast from YouTube

Mass adaption is not necessarily needed. First world has no real need for it outside from cross payments. Its more so the 3rd world that is need in currencies that don't hyper inflate and can be sent easily and fast with phones. Key caviat there "phones" since most people cannot afford necessarily good PC's or internet in 3rd world so its key and vital element to provide applications, dapps and currencies that are phone safe options.

Also going take a deeper look into Cryptotask and see if there is some good graphic designer opporturnities for me.

1 month ago

newmywifius net new user

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1 month ago

Meave Widson new user

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1 month ago

Mr. V new user

  • By 2022, worldwide spending on blockchain solutions will reach $11.7 billion 
  • The global blockchain technology market is estimated to accumulate $20 billion in revenue by 2024
  • Blockchain can reduce 30% of banks’ infrastructure costs
  • Financial companies can save up to $12 billion a year from using blockchain

more developers more dapps and now we have Defi the next buzz word so in short ethereum will emerge as the true operating system for blocchain apps. 

1 month ago

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1 month ago

dr dent18 guru

Good to see the platform growing everyday. Nice to see the stats put up by you guys every month. Dapps will require a lot of time bcuz of their nature, speed and transaction fees. Once there's a mainstream application it will really take off. Something like brave browser. I can easily let me parents use it to earn without knowing anything about blockchain. Most apps have to learn to create easy to use app for everyone in the world to accept it. Not many care about privacy and they do care about earning even if it's very less.

1 month ago

TOM STEEL guru

This is very good and the information is also a very good read. This news will give a lot of insight to new users to the blockchain and crypto.

If possible this can be posted on medium also.

Avery good read.

1 month ago

Wow Nice crypto to the moon

1 month ago

Karen M guru

Congrats Cryptotask! The progress and the nbers you show look very promising. Partnering with Aeternity will help both of you!

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1 month ago