One of the biggest and most important crypto venture capital firms issued its own in-depth analysis of the crypto world as of 2022. The analysis was condensed into five main aspects that describe the crypto world. Some of the theories seem to be fascinating, while others seem to be obvious.
According to a16z’s report, there are currently no initiatives in the Web3 space that are comparable to Ethereum, and those that potentially represent true competition are still far behind.
The a16z analysts’ thesis of Ethereum’s supremacy is based on various indicators. One of them is the monthly active developer/days since the first commit ratio.
According to this statistic, around 4,000 developers are working on Ethereum. Solana comes in second with 1,000 active developers. For example, Cardano, did not even enter the top 500, nor did the other blockchains included in the report.
Other important parameters for determining blockchain popularity include the number of active addresses and the number of daily transactions.
With 5.5 million active addresses and 1.1 million daily transactions, Ethereum trails Solana, BNB Chain, and Polygon.
Avalanche and Fantom were also included in the list, although Cardano is far behind in terms of numbers, with just 115,000 active addresses and around 125,000 daily transactions, according to Messari.
To conclude, despite its popularity, Ethereum finally succumbed to its size, focusing on decentralisation. As a result, other blockchains, like Cardano, have been able to attract consumers by promising greater performance and reduced fees.
And, although Cardano is currently playing catch-up, it has a glimpse of promise for the future and a substantial number of followers.
