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Ethereum leads European blockchain startup scene, says LeadBlock

Ethereum leads European blockchain startup scene says LeadBlock

A LeadBlock Partners report says Ethereum holds a dominant position in European blockchain startups. LeadBlock Partners is a venture capital firm based out of Paris and London. As per its latest report, European blockchain startups are working extensively on solutions involving Ethereum, Corda, and Hyperledger technologies.

The report sample size included over 200 startups based in the European Union. It was found that Corda, Etherum, and Hyperledger make up for 65 percent of the total protocols employed in European enterprise-grade blockchain startups. Additionally, Ethereum is used by 27 percent of these firms, while Hyperleger and Corda make up 20 percent and 16 percent, respectively. The rise of Ethereum in the European blockchain ecosystem shows the long way it comes since inception.

The dominance of Ethereum in the European blockchain ecosystem

Ethereum blockchain is not only dominating the European region, but it is also taking the lead in various North American projects. However, selecting a blockchain for a project or an entire industry demands extensive research. The suitability depends on a variety of factors.

Ethereum is an excellent choice for the tokenization of assets, real estate companies, supply chain cases etc. These industries are ideally looking for a stable architecture, robustness, and scalability factor. Ethereum also gains lead due to high daily API requests, extensive database of dApps, and a vibrant community. The report also states that more than 40 percent of the European blockchain startup chose Ethereum because it helped them cut costs.

Corda and Hyperledger are not far behind

At the same time, the report highlights how Hyperledger comes out as the right choice for companies operating in the healthcare sector, food industry, and agriculture realm. Corda, on the other hand, is well suited to serve the needs of the financial industry.

LeadBlock Partners also mentions that consumers must be able to access these platforms simultaneously, i.e., interoperability is a huge plus point. If firms are able to access multiple technologies at the same time, their operating efficiency can increase manifold. Thus, interoperability should be emphasized upon in the future.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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