CoinDesk Releases Q3 2017 Blockchain Industry Report

nRunaway Comment: CoinDesk’s latest quarterly survey of the blockchain industry has been released, with in-depth analysis of all that has transpired in cryptocurrencies and blockchain in the third quarter of 2017 to help people become more aware of this new area Progress and forecast its future development trend. This kind of report has always been more comprehensive and objective and can provide important information and guidance to crypto-currency lovers.n
nTranslation: Inan
CoinDesk announced the release of its latest depth report on blockchain technology and cryptocurrency on November 28th.n
This quarterly report, which began in 2014, has just released the third quarter 2017 blockchain report, the latest in the series, with more than 100 charts showing the industry in yet another historic quarter What progress has occurred.n
The report is divided into sections to help readers understand comprehensive industry data and includes a special sensory survey that provides insight into evolving market trends through more than 50 questions.n
The report focuses on the following aspects:n
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1. The market overcame the regulatory challengesn
Bitcoin prices hit a record high in the third quarter and the macro economy is at the core of this push.n
Our Q3 survey found that respondents considered the most important attribute of Bitcoin in its ability to hedge its currency uncertainty today. It is noteworthy that they might say that this belief posed unique challenges in the quarter as several implementing agencies announced the regulatory actions.n
For example, in the third quarter, Chinese regulators called for exchanges to stop trading. BTCC, one of China’s largest exchanges, followed the rules on the last day of the third quarter and stopped trading.n
However, the growth of global trade volume can not be stopped. As the picture shows, the impact of China’s regulatory actions is hardly shown here.n
As a result, demand for Bitcoin continued to grow this quarter. For the first time, its price broke through the $ 5,000 mark, and for macroeconomic reasons the price is much higher in some countries.n
Bitcoin is playing a role as a “currency of crisis” in countries where central bank policies are particularly strict. For example, the volume of cryptocurrencies in Zimbabwe and Venezuela both hit record highs. Earlier, India in the fourth quarter of 2016 after the abolishment of large amount of old coins also appeared in this situation.n

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Bifurcation bitcoinn
Technically, bitcoin went through several tests in the third quarter, including soft and hard forks (two different types of software upgrades).n
Soft bifurcation allows people to adopt a code called Segregated Witness which in turn enables bitcoin to earn several new crypto innovations and also creates the first block in the bitcoin blockchain that exceeds 1MB in size The block.n
However, this change has also drawn some criticism. Bifurcation has led to the emergence of bitcoin cash, an alternative blockchain that is isolated from bitcoin code and has a block size of 8MB.n
However, it remains to be seen whether such a new blockchain will compete with bitcoin for a long time.n

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3. ICO and VC investment growthn
Of course, progress in the third quarter of the industry may be much simpler than macroeconomics, crisis money, or technical and philosophical debate. To sum up, maybe just people are making money.n
ICO and VC investment hit a new high this quarter. ICO raised a total of 1.24 billion US dollars for people, on behalf of the project Filecoin and Tezos; Coinbase through VC financing raised 100 million US dollars, its valuation reached 1.6 billion US dollars. This round of investment was announced in August and made Coinbase the first “Unicorn” company in the blockchain industry.n
Through the ICO, coin-wide diversification throughout 2017 triggered the growth of well-known institutional buyers. Pioneer analysts are now struggling to understand the valuation and write a book on the new key price indicators.n
This area has aroused great repercussions in the quarter, in terms of technical analysis, use cases, teams, white papers, code reviews and other factors, with more than 100 new cryptocurrencies hedging funds.n

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4 public chain other key indicatorsn
In addition, steady growth has also emerged in other indicator areas.n
Trading volumes, block sizes, hash rates, new addresses and transactions also hit new highs, with Ethereum setting a new record in blockchain deals within 24 hours, for example.n
In short, the global heat of cryptocurrency appears to be spreading, and the last piece of data we’ve got through the sensory survey is a perfect illustration of the craze.n
Data show that people are buying more cryptocurrencies and viewing their prices more often.n

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