{"id":566560,"date":"2021-04-22T11:29:39","date_gmt":"2021-04-22T08:29:39","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566560"},"modified":"2021-04-22T11:29:39","modified_gmt":"2021-04-22T08:29:39","slug":"ethereum-eth-settled-transactions-worth-1-5t-in-q1-2021","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereum-eth-settled-transactions-worth-1-5t-in-q1-2021\/","title":{"rendered":"Ethereum (ETH) Settled Transactions worth $1.5T in Q1, 2021"},"content":{"rendered":"<ul>\n<li><strong>The Ethereum network has settled $1.5 Trillion in transactions in the first quarter of 2021<\/strong><\/li>\n<li><strong>This amount exceeds the last 7 quarters combined and the highest to date, in a quarter<\/strong><\/li>\n<li><strong>Ethereum could settle $6 Trillion by the end of 2021<\/strong><\/li>\n<li><strong>According to Arthur Hayes, Ethereum is the most developed smart contract network in the blockchain industry<\/strong><\/li>\n<\/ul>\n<p>The <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-ethereum-eth-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Ethereum network<\/a> settled a staggering $1.5 Trillion in transactions in the first quarter of 2021. This milestone was highlighted by Ryan Watkins of Messari Research through <a href=\"https:\/\/twitter.com\/RyanWatkins_\/status\/1384676842045681664\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">the following statement<\/a> and accompanying chart.<\/p>\n<blockquote><p>Ethereum settled $1.5 trillion in transactions in Q1 2021. That\u2019s more than it\u2019s previous 7 quarters combined.<\/p><\/blockquote>\n<h2><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Ethereum-quarterly-transactions.jpg\"><img class=\"aligncenter size-full wp-image-566561\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Ethereum-quarterly-transactions.jpg\" alt=\"\" width=\"720\" height=\"405\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Ethereum-quarterly-transactions.jpg 720w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Ethereum-quarterly-transactions-300x169.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Ethereum-quarterly-transactions-500x281.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Ethereum-quarterly-transactions-240x135.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/04\/Ethereum-quarterly-transactions-717x403.jpg 717w\" sizes=\"(max-width: 720px) 100vw, 720px\" title=\"\"><\/a>Ethereum on Track to Settle $6 Trillion in 2021<\/h2>\n<p>The data from Messari also hints towards the possibility of Ethereum settling $6 Trillion in transactions by the end of this year. This is based on the assumption that Ethereum&#8217;s quarterly transactions continue to stay constant at roughly $1.5 million per quarter, and that other smart contract networks <a href=\"https:\/\/en.ethereumworldnews.com\/binance-smart-chain-daily-transaction-count-hits-new-high-of-3-9m\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">such as BSC<\/a>, do not chip away at Ethereum&#8217;s dominance.<\/p>\n<h2>Ethereum is the Most Developed, Decentralized Smart Contract Network &#8211; Author Hayes<\/h2>\n<p>However, the encroachment of other blockchain&#8217;s into Ethereum&#8217;s dominance might take a while given the popularity of its several DeFi platforms and NFT marketplaces. This fact was highlighted by the former CEO of Bitmex, <a href=\"https:\/\/en.ethereumworldnews.com\/bitmexs-arthur-hayes-samuel-reed-step-down-from-ceo-and-cto-roles\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Arther Hayes<\/a>, who dubbed Ethereum as &#8216;the most developed, decentralized smart contract network&#8217; in <a href=\"https:\/\/blog.bitmex.com\/yes-i-read-the-whitepaper\/\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">a recent blog post<\/a>.<\/p>\n<p>An excerpt of his analysis of Ethereum can be found below.<\/p>\n<blockquote><p>Ethereum is the most developed, decentralised smart contract network. Even though the gas fees are currently astronomical, it is a good problem to have. No other public smart contract-enabled blockchain operates at the scale of Ethereum. When they do, I will refresh this analysis.<\/p><\/blockquote>\n<h2>Other Smart Contract Platforms Want to Become &#8216;Top Dog&#8217;<\/h2>\n<p>Mr. Hayes went on to warn that other smart contract platforms are improving on Ethereum&#8217;s weaknesses in a bid to become &#8216;top dog&#8217; as explained below.<\/p>\n<blockquote><p>While Ethereum is the best of the lot right now, there are others out there attempting to capitalise on its foibles and become the top dog \u2013 including\u00a0 <a href=\"https:\/\/en.ethereumworldnews.com\/polkadot-dot-is-one-of-the-best-layer-1-protocols-out-there-weiss\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Polkadot<\/a>, Solana, Cosmos, <a href=\"https:\/\/en.ethereumworldnews.com\/cardano-ada-to-have-smart-contracts-in-about-four-months\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Cardano<\/a> (when Godot arrives and smart contracts are finally available), etc.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Ethereum network has settled $1.5 Trillion in transactions in the first quarter of 2021 This amount exceeds the last 7 quarters combined and the highest to date, in a quarter Ethereum could settle $6 Trillion by the end of 2021 According to Arthur Hayes, Ethereum is the most developed smart contract network in the blockchain industry The Ethereum network settled a staggering $1.5 Trillion in transactions in the first quarter of 2021. This milestone was highlighted by Ryan Watkins [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":562142,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[823],"tags":[1322,108219,108122,213,108194],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566560"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=566560"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/562142"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=566560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=566560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=566560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}