Interesting Blockchain Statistics & Facts in 2019
Blockchain has taken all of us by a storm. In 10 years, it has grown rapidly.
Considering its age, it is also one of the newest technologies out there, much more modern than IoT, Machine Learning or Big Data.
It has impacted almost every sector out there, including supply chain, finance, health, and so on.
By going through the article, you will be able to appreciate blockchain more than ever. It will help you understand the vastness of blockchain that is created in the past few years. We will cover everything related to blockchain. However, due to its vastness, we will skip a few of the less essential stats about blockchain out. You do not have to worry as we will cover the best blockchain statistics out there.
Overview of Blockchain Statistics [hide]
Amazing Blockchain Statistics
Before we dive deep, let’s try to understand blockchain in the simplest way possible.
Blockchain is a peer-to-peer distributed ledger technology. It provides key features such as integrity, transparency, and immutability.
To reach a consensus, a blockchain network uses consensus methods where the peers provide their input on the validity of the transactions.
This means that there is no centralization required to make the network work. However, with time, we have many different types of blockchain solutions that divert from the pure decentralization idea.
- Blockchain was first introduced through bitcoin whitepaper in October 2008.
- The idea was developed by a pseudonym, Satoshi Nakamoto.
- Almost 2.9 billion USD https://www.statista.com/topics/5122/blockchain/ has been spent on blockchain until 2019.
- Finance is the sector which has the highest blockchain value distribution
- Blockchain wallets have grown tremendously in the last few years reaching, 400 billion.
- Blockchain solution expenditure is projected to 2.9 billion U.S. dollar in 2019. It can reach 12.4 billion U.S. dollar by 2022 worldwide.
- The USA alone is projected to reach 4.2 billion dollars by 2022 on blockchain solutions.
- The forecasted value of blockchain in the food market and agriculture from 2017 to 2028 worldwide is 1442 billion U.S. dollars.
- China saw a huge growth in terms of startups. In 2017 itself, 178 new blockchain startups started their journey in China.
Investments in blockchain have grown tremendously in the past few years. Blockchain is promising, and investors want to take advantage of its growth. Below are the statistics to help you understand the scenario around investments on the blockchain.
- 540 million U.S. dollars global investment in done into bitcoin/blockchain startups in the first quarter of 2018.
- Total funding raised Initial Coin Offering(ICOs) is 2.6 billion U.S dollars in Feb. 2018
- EOS is the largest ever ICO that raised 4.2 billion U.S. dollars.
- Coinbase is the largest VC funded blockchain company between 2014 and 2017. It raised a total of 251 million U.S. dollars.
- In China, Bitmain raised 450 million U.S. dollars.
Bitcoin is the number one cryptocurrency out there. We discuss bitcoin or other cryptocurrencies as they are a vital part of the blockchain ecosystem. Cryptocurrency is one of the most successful use-cases of blockchain.
- At the time of its rapid growth, only 24% of the Americans knew about bitcoin or blockchain.
- Currently, there are 17.8 million bitcoins in circulation.
- There are currently 4714 Bitcoin ATMs all around the world.
- Majority of the bitcoin ATMs are located in the USA.
- Bitcoin price index across all the exchanges has grown larger. By the end of June 2019, it is set to 10,908 US dollars.
- The global value of bitcoin is 10.1 trillion US dollars as of January 2014.
- 96% of all bitcoin is held by only 4% of the bitcoin addresses.
- 25% of bitcoin is lost forever
- There are over 21 million bitcoins
Block Size Stats
- Bitcoin blockchain size grew at a steady pace from 2019.
- Currently, it has a size of 226.6 GB(June 2019)
- At the start, it had only 1 MB of size.
- After four years, it grew to 27 GB of the block size.
- It will continue to grow rapidly in the near future.
- Average block size is 1.06 MB
- It reached its highest market capitalization in the 2nd quarter, 2018 at 237.62 billion US dollar.
- The 2nd highest market capitalization is 2nd quarter, 2019 with 205.4 billion US dollar.
- It started with just 1.02 billion US dollar market capitalization in the 1st quarter of 2013 to 237.62 billion US dollars in the 2nd quarter of 2017.
Bitcoin Price and transaction
- Bitcoin price reached its all-time high of 19,783.06 on 17th December 2017
- From its initial release, it became stable around 20$ in January 2013
- As of the second quarter of 2019, there are 330,731 bitcoin transactions per day.
- Average bitcoin transaction confirmation is 9.47 minutes(June 2019)
Even though bitcoin is the king, the cryptocurrency market is huge. Below are some of the amazing cryptocurrency statistics that you should know!
- There are more than 40 million blockchain wallets out there.
- By 2016, 38% of the cryptocurrency users are from the Asia-Pacific region
- By May 2109, OKEx is leading the race of the number one exchange(30-day volume)
- In 2019, 47% of the market capitalization is done by cryptocurrency. It was only 14% in 2015.
- The total number of cryptocurrencies listed on Coinmarketcap is 2374 as of July 2019.
- Ethereum is the second most popular cryptocurrency after Bitcoin as of June 2019.
- Ethereum also has the most transactions per day worldwide. It stands at 606 thousand transactions per day.
- Coinbase is one of the most popular exchanges out there. It saw a monthly average of 11.1 million users daily worldwide.
- The total amount of funds raised by ICO in 2017-2018 is 103 million U.S. dollars.
- By October 2018, the total funds raised by ICOs is 875.34 million U.S. dollars.
- In the network communications industry alone, ICOs raised 4.64 billion U.S dollars as of October 2018 worldwide.
Blockchain adoption and Barriers
In the last section of the article, we are going to discuss the blockchain adoption and barriers. This will help you understand the challenges that go through while blockchain adoption.
- 73% of the automotive industry respondents agree that blockchain will bring disruption in the industry.
- The blockchain impact in Europe 2018 is expected to grow. Almost half of the respondents agree that blockchain can add value to the current operating model.
- Even the top business decision-makers agree that blockchain can bring them a competitive edge. Almost 70% of the respondents agree to that.
- The high interested in blockchain doesn’t mean that CIOs are keen to implement blockchain right away. Around 77% of CIOs don’t plan or show any interest in deploying blockchain.
- More than half of the businesses are using private blockchain model.