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Ethereum Registers Record-Breaking Blockchain Transaction In 24 hours.

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Ethereum, a decentralized platform for blockchain based applications, powered by Ether – a cryptocurrency, which in turn is powered by Blockchain, is making headlines. Reports say that the Ethereum network has registered a record 410,000 transactions during 14-15 August, which is more than any Blockchain platform ever.

Co-founder of Ethereum, Vitalik Buterin retweeted the data on Tuesday, which shows 410,061 transactions completed in 24 hours – which reporting source ethgasstation says “is the highest ever recorded for any public Blockchain.”

Ethereum ahead of Bitcoin

The figures presented by Ethereum puts it firmly ahead of Bitcoin in terms of transaction numbers. According to Blockchain.info, Bitcoin has recorded maximum of around 255,000 transactions.

Over the past week, ETH has remained fairly stable in price, balanced around $300, with no significant flickering.

Nonetheless, Bitcoin continues to outperform the largest altcoin many times over, contrasting with the apparent frantic trading activity which is deeply driven by ERC20 token purchases. Bitcoin and Blockchain have come a long way, opening doors for plethora of opportunities.

Amidst all this, Buterin refuted any criticism surfacing around apparent high costs for using the Ethereum Blockchain to store data.

In a separate tweet, responding to Zcash Foundation direction Andrew Miller, Ethereum co-founder cited costs per kilobyte “may vary from $0.02 to $1.81.”

Miller has tweeted: “Cost to store a kilobyte on Ethereum blockchain: currently over $0.50”

Jeff Garzik, former Bitcoin Core developer, also extended his support to back Ethereum costs.

Going by the reports, this is definitely a historic episode in digital assets, while researches are still being performed on potential Blockchain Applications. One can just anticipate that Blockchain continues to secure digital assets, leading to a trillion dollar cryptocurrency market.

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