An independent vlogger released a video on Reddit regarding why he is still bullish on digital currency. In the video he posted, he mentioned 6 points to keep in mind regarding the health of the crypto space as platforms continue to evolve, clarity comes into being and digital currency attracts the brightest and best minds from both the financial and tech industries.
The Network of Bitcoin Is Healthier Than Before
A lot of traders have not made so much money this year as the market correction that stopped last year’s bull run linger on and the value of Bitcoin has wavered between the $6k and $9k mark. In the video, the vlogger laid more emphasis on the security of the system.
He said in the video that in the past month, there has been a 300 percent increase in the hash rate of bitcoin, and this means the coin is being mined by more people than ever. This also means that the ledger is larger than before and the system is more secure.
As pointed out in the video, the network of bitcoin has grown larger than it was imagined at the beginning, and so is the network of Ethereum growing at an unexpected rate. He said more people are downloading the Ethereum developer program Truffle now than they were even when the value of the coin was very high back in January. There are an estimated 50,000 new downloads every month.
Ethereum Gaining 50K Developers a Month
These estimates got the vlogger so much flack from his Reddit followers. Maybe the exact number isn’t as vital as the amount of work being carried on the network as developers continue to build decentralized applications and generate smart contracts.
As the vlogger pointed out at the beginning of his video, at the end of last year, there were 900 decentralized apps and today there are more than 1,500 Dapps, and the number is rapidly increasing to hit 2,000 before the end of this year.