Have you ever heard of the term open-source? It means that any person with a couple ideas and tech genius instilled in them can add functionality to a code project to help it grow. Now this can help the advancement of a technology grow at exponential rates that otherwise may not have been possible. We are seeing this with Ethereum as the network expands and more developers want to join the project.
The Best Part
Developers from all around the world that advance the platform earn Ethereum. So they are rewarded for furthering the technology and they have incentive to only build the best code.
If you go to Github currently and search the term “Ethereum”, you will find that roughly 3,595 repositories exist. The number of projects within these repositories are continuing to go up daily. The goal is to eventually have a network that can operate itself on smart technology. Some like to refer to this vision as the “world computer”.
Impact on Google Search
One of the things I found interesting was the search trend for the term ‘Bitcoin’. A year ago, it was at a number of 1.5 million hits a month. In April of 2017, the number of hits per month jumped to 2.2 million.
So if you do the quick math you figure out that the number of searches in a little less than a year has gone up by roughly 700,000 searches per month. In a year, this equates to 8,400,000 hits more in a year. I believe this type of exponential move will continue as general public starts to understand it more.
The Boom of Ethereum
The two largest crypto-currencies by market cap are Bitcoin and Ethereum. Bitcoin has a whopping $41 billion in market cap while Ethereum has a $22 billion dollar market cap. These assets could change the Forex marketplace over the next couple of years as money continues to move in.
Ethereum is in the ‘infancy’ of it’s growth stages from what I see. The term ‘Ethereum’ a year ago was getting around 150,000 searches per month. In April of 2017, the search volume was double standing at 300,000 searches.
The growth of Ethereum has started to catch attention of the public eye. Whether the increase in Google visibility continues is anyone’s guess at this point. But I think it will continue because the technology and innovation is exciting.
The development of a system where fees are low to move money and the security is top notch is what the world needs. Only time will tell if this technology has what it takes to handle the complex challenges of computing.