Coinbase, the leading crypto exchange in the US, has proposed a new way to accurately measure the adoption of blockchain technology.
The Challenge of Measuring Adoption
As more blockchain applications are launched, traditional metrics like total transactions and daily active addresses become less reliable due to spam and fake accounts.
Introducing the h-index
To address this, Coinbase proposes using the h-index, a metric originally developed to measure the impact of scientific publications.
How the h-index Works
The h-index tracks the number of addresses that have received transactions the same number of times. For example, an h-index of 100 means that 100 different addresses have received transactions from at least 100 unique sending addresses.
Ethereum Leads the Pack
Using this new metric, Coinbase found that Ethereum (ETH) has the highest level of adoption among Ethereum Virtual Machine (EVM)-compatible chains. Other chains with strong adoption include Base, Arbitrum, Optimism, Polygon, Avalanche, and Fantom.
Conclusion
Coinbase’s h-index provides a more accurate way to measure blockchain adoption, addressing the limitations of traditional metrics. It shows that Ethereum remains the most widely used blockchain, with other EVM-compatible chains gaining traction.
