One key metric suggests that Ethereum (ETH) has enjoyed a much faster rate of adoption and growth in the first five years of existence than Bitcoin (BTC).<\/p>\n<\/p>\n
Comparing the total number of addresses after n days for both Bitcoin and Ethereum. Source: Cointelegraph, Glassnode, Etherscan.<\/p>\n
We compared the total number of addresses created in the first five years on both major blockchain networks. While the number of addresses could be a good gauge of the rate adoption, it may not be perfect for various reasons. One reason is that the accounting systems in the two networks are different.<\/p>\n<\/p>\n
Total number of addresses in the first five years of existence Ethereum versus Bitcoin. Source: Cointelegraph, Glassnode, Etherscan.<\/p>\n
In the first 600 days, the growth rate for both networks is quite similar. By mid-2017, however, Ethereums curve became much steeper. The most obvious explanation is the ICO boom. The creation of thousands of ERC20 tokens and their subsequent distribution and trading led to a much greater rate of Ethereum address creation.<\/p>\n
Another advantage that Ethereum had from the beginning is that it was standing on the shoulders of Bitcoin and other cryptocurrencies; whereas Bitcoin was the worlds first decentralized electronic currency. Bitcoins adoption was slow and gradual. The slope of its curve never had an uplift similar to the ICO boom.<\/p>\n
In another five years, a similar comparison will hopefully still remain relevant.<\/p>\n
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