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Top 20 Blockchain Statistics to Blow Your Mind

blockchain statistics

Blockchain is the latest revolutionary technology with a wide range of applications in multiple industries. It’s mostly related to cryptocurrencies like Bitcoin that popularized the term and started the digital gold rush of the 21st century. However, experts see technology revolutionizing not only finance, but also politics, law, traveling, healthcare, and more.

While this sounds amazing, seeing blockchain technology in action is even better, so we’ll take a look at some exciting blockchain statistics to see how it’s currently performing and learn some amazing facts to boot.

Key Blockchain Stats:

  • Q1 in 2021 was more profitable for blockchain startups than the whole of 2020.
  • The US is the biggest blockchain investor.
  • The EOS initial coin offering accumulated $4.2 in funding.
  • The all-time high for a cryptocurrency market cap was more than $2.5 trillion
  • 55% of companies see blockchain as their top priority.

Blockchain Investments

The investments in blockchain in Q1 2021 have been record-breaking so far. This spike resulted from new funding rounds for startups like Blockfi Inc, Blockchain.com, and Dapper Labs. It’s no wonder since companies are more and more inclined to make blockchain investments and adopt the technology for their use.

In 2020, the most significant deterrents for companies to invest in blockchain technology were difficulties in adapting the technology to legacy systems, concerns over sensitive information, and potential security threats. However, things have changed significantly:

  1. Blockchain startup companies received $2.6 billion in funding from venture capitalists in Q1 2021.

(Statista, Bitcoin.com)

  1. The record year for blockchain startup investment was 2018, with $3.3 billion raised.

(Statista)

  1. 40% of leaders in the supply-chain industry plan to invest in blockchain.

(Statista)

  1. Blockchain statistics show that the expected spending on various blockchain solutions will amount to $6.6 billion in 2021.

(Statista)

  1. The US is the largest investor in blockchain companies with a 51% share, followed by China with 18%, Switzerland with 5%, the UK with 4% of the total investments.

(Statista)

  1. The most successful blockchain startup ICO (initial coin offering) was EOS’, with $4.2 billion raised.

(Statista)

  1. Two-thirds of surveyed companies plan to invest at least $1 million in deploying blockchain technology for their own purposes.

(Statista)

Blockchain Origins and Bitcoin Facts

Blockchain is currently mainly used as an immutable public ledger for the development of digital currency. Blockchain size increases as new blocks are added with new transaction data. Additionally, each block has the hash value of the previous and current blocks. The hash is a unique identifier of each block. Each new block is added to the blockchain after transactions are verified by the network, eliminating the need for a trusted third party to act as an intermediary.

  1. W. Scott Stornetta and Stuart Haber originally developed the blockchain in 1991 to prevent document tampering by digitally timestamping documents.

(CiteSeerX)

  1. Bitcoin, invented by a group of people or an individual under the alias Satoshi Nakamoto, used blockchain in the manner with which we are familiar today.

(Bitcoin Wiki)

  1. Bitcoin’s blockchain size in June 2021 was 348.26 Gigabytes.

(YCharts)

  1. Currently, there are 18,725,831 bitcoins in circulation.

(CoinMarketCap)

  1. Total amount of bitcoins that will be mined is 21 million.

(CoinMarketCap)

  1. The highest cryptocurrency market cap by June 2021 was more than $2.5 trillion.

(Live Coin Watch)

  1. The most dominant cryptocurrency is Bitcoin, with 41.11% of the market share, followed by Ether at 18.14%.

(Live Coin Watch)

  1. The highest price of Bitcoin by June 2021 was $64,763.

(Live Coin Watch)

  1. The highest number of Bitcoin transactions per day was 439,549.

(Blockchain.com)

The Evolution of Blockchain and Its Global Application

With Bitcoin, blockchain served the purpose of a public ledger. However, the technology is attractive to global organizations and is a top priority for development besides AI, machine learning, 5G, virtual reality, and augmented reality.

  1. Blockchain’s top applications are in digital currencies, data sharing, data reconciliation, identity protection, and payments.

(Deloitte)

  1. 55% of companies see blockchain adoption within their top five strategic objectives.

(Deloitte)

  1. 88% of senior executives think that blockchain technology is scalable and will see mainstream adoption.

(Deloitte)

  1. Blockchain statistics show that China, Brazil, and UAE are the lead countries considering using digital assets as an alternative for fiat currencies.

(Deloitte)

FAQ

1. How many percent of the Earth’s population uses blockchain technology?

It’s hard to estimate the number of people that use blockchain in general. However, we can try to estimate based on the number of users for blockchain-based technologies like Bitcoin and Ethereum.

There are more than 460 million crypto wallets that held Bitcoin at some point. This includes 172 million addresses that regularly circulate Bitcoin, like cryptocurrency exchanges, Bitcoin gambling websites, merchants, and private wallets. Ethereum, on the other hand, has more than 156 million unique Ether addresses.

Companies are using the blockchain primarily as a payment method or technology implemented in their internal processes. Some of these enterprises are giants in their industry, like Amazon, Visa, Walmart, Ford, DHL, Pfizer, and many others.

2. What sector is the largest usage of Blockchain?

The financial sector is by far the biggest adopter of blockchain technology. Since blockchain is commonly used as a public ledger for cryptocurrencies, this comes as no surprise. The benefits of the technology make it a popular transaction method, and the practicality of cryptocurrencies is evident to anyone who uses them; some gambling and betting fans, for example, prefer online Bitcoin betting venues to retail locations.

3. How big is the Blockchain industry?

According to blockchain statistics, the blockchain technology market size was valued at $3.67 billion in 2020. It’s expected to grow at a compound annual growth rate (CAGR) of 82.4% from 2021 to 2028.

4. How many Blockchains are there in 2021?

There are four different types of blockchain networks and applications of the technology. Those are public, private, hybrid, and consortium blockchains.

Sources:

Bitcoin.com

Bitcoin Wiki

Blockchain.com

CiteSeerX

CoinMarketCap

Deloitte

Live Coin Watch

Statista

YCharts