Two altcoins are crushing Ethereum (ETH) in terms of active addresses and daily transactions, according to a new report from venture capital giant Andreessen Horowitz (a16z).
The venture capital firm looked at active addresses measured over a 30-day period as of May 12th, Ethereum had 5.5 million, compared to 9.4 million for Binance Chain’s Binance Coin (BNB) and a whopping 15.4 million for Solana (SOL).
Andreesen Horowitz also probed daily transactions, looking at the 30-day average. As of May 12th, ETH had 1.1 million, compared to 5 million for BNB and 15.3 million for SOL.
Ethereum, however, has a far higher demand for block space. The leading smart contract platform by market cap witnessed more than $15 million worth of transaction fees over a seven-day average, compared to about $1.3 million for BNB Chain and only $62,041 for Solana.
The firm also found that Ethereum easily attracts the most developers out of the three blockchain ecosystems.
“Ethereum’s popularity is also a double-edged sword. Because Ethereum has historically prized decentralization over scaling, other blockchains have been able to swoop in and attract users with promises of better performance and lower fees. (Some might argue they do so at the expense of security.)”
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