The year 2018 was the most disastrous one for the crypto space, with several tokens crashing down up to 90% in price value. This made many projects to quit the space, while some held the ground, and survived through the crypto winter.
Even though the markets crashed, the space expanded for the most part. Crypto platforms realized that that mass crypto adoption is the way to go forward, and hence, they have been taking continuous efforts for boosting adoption. The good thing is that cryptocurrencies other than established ones like Bitcoin, Ethereum, and TRON are also playing big, and walking toe to toe with the major tokens.
IOST is one such platform, which has taken the crypto space by storm in just a few weeks since its launch. Earlier this year, the platform surpassed Ethereum in daily transaction volume, which is a phenomenal feat given the size difference between the two platforms. Just to understand this, Ethereum has an impregnable developer base with over 400,000 developers in its community. Ethereum is also the underlying platform for over 25% of total cryptocurrencies.
Ethereum also has more than 2,000 DApps on its platform, while IOST has just 11. Then too, on April 6, transactions processed on IOST platform (580,231) were more than those processed on Ethereum (558,272). The platform shared a tweet on Monday, boasting the success it has achieved in the short span of time.
8 weeks post-mainnet: $IOST surpassed #Ethereum in daily transactions volume. OASIS makes Dapps user-friendly. Berm to onboard 20 million users. Government & MNC partnerships in progress. We are just getting started! ?#crypto #blockchain #iost #ethhttps://t.co/LcKUYS5VE4
— IOStoken (@IOStoken) April 22, 2019
Recently, IOST joined the Project Pegasus, a project aimed to encourage mass adoption of cryptocurrencies, via its x Berm Protocol. The Berm Protocol aims to bring over 20 million users on the platform by the end of this year. IOST has also struck some important deals with various government departments to create blockchain based solution using the native cryptocurrency.
Earlier this month, IOST CEO Jimmy Zhong stated that surpassing Ethereum was a big moment for the platform. Speaking to journalists, Zhong said.
“Surpassing Ethereum was certainly a big moment for us. While this has yet to become the norm, it demonstrates IOST’s ability to contest and exceed some of the most established protocols today.
We’ve processed over 26 million transactions within our first month, but we’ve only just started and are confident that these figures will grow rapidly in the months to come.”
IOST has been the only blockchain crypto project which was launched its mainnet six months ahead of its scheduled time. It was launched in late February this year, and since then, it has managed to register over 200,000 accounts on its platform, and also added 15,000 wallets per day.
The crypto space has been dominated by Ethereum, the second most valued cryptocurrency seems to be losing the top position. Between March 20 and April 20, TRON and EOS showed higher growth than Ethereum in terms of adding DApps to the platform. DApps on TRON increased by 41.5%, those on EOS grew by 8.4%. Ethereum clearly lost the battle in the 30-day period.