Andreessen Horowitz analysts recognized the Ethereum ecosystem’s lead in Web 3.0

What’s new? Analysts of the large venture capital fund Andreessen Horowitz (a16z) have called Ethereum the best blockchain ecosystem. According to a 2022 study of the cryptocurrency industry, no project in the field of Web 3.0 can compete with it at the moment. Experts came to this conclusion based on an analysis of the number of developers and active users of various blockchains, among other things.

The full version of the study

What other data does the study contain? The thesis of Ethereum’s superiority over other projects is based on several metrics. One of them has to do with the number of active developers. According to this metric, Ethereum has an average of 4000 developers per month, with Solana in second place with 1000 active developers. In third place is Bitcoin, with around 500 developers.

Analysts estimate that there are between 7 and 50 million active Ethereum users in the world today. Drawing an analogy with the development of the Internet, Andreessen Horowitz believes that in terms of the level of development, we are in 1995. If growth trends continue, we will reach 1 billion users in the Web 3.0 ecosystem by 2031.

Andreessen Horowitz, also known as a16z, is a venture capital fund founded in Silicon Valley by Marc Andreessen and Ben Horowitz in 2009. It is headquartered in Menlo Park, California. The fund invests in startups in the field of fintech, cryptocurrencies and blockchain, biotechnology and healthcare. a16z has assets worth $28,2 billion under management.

What events happened before? In April, Ethereum beat bitcoin in terms of mining yields by $170 million. Over the month, BTC miners earned $1,16 billion, down 4,3% from March. In contrast, Ethereum mining revenue rose 6,2% to $1,33 billion.

Ethereum will completely switch from the Proof-of-Work (PoW) algorithm to the Proof-of-Stake (PoS) algorithm in the III-IV quarter of 2022. This means that ETH will no longer be able to be mined, and staking will be the only way to earn coins. To find out how the algorithm change will affect miners and what ways of earning they will be able to use after the network’s main altcoin is upgraded, see the article on the GetBlock website.