Critics have been trying to spread fear, uncertainty, and doubt on the No. 2 cryptocurrency in light of its scaling issues. It’s true that Ethereum is struggling with congestion as network utilization is above 94 percent. As a result, it becomes costly to run applications.
Nevertheless, the cryptocurrency’s biggest problem appears to be its source of strength. The network is congested because there are so many developers building decentralized applications (DApps) on the blockchain. In addition, the scaling issue is temporary, as the Ethereum community has a solution with a timeline in place.
According to a recent study by Electric Capital, there are 1,156 monthly average developers. That number is four times greater than the next biggest ecosystem, which is Bitcoin. The study also noted that other ecosystems and crypto networks have fewer than 250 developers.
This metric is so important because the cryptocurrency with the highest number of developers is likely the one that has the most value.