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Ethereum Hits New Milestone, Surpassing 200,000 Smart Contracts

August 07, 2019

More than 200,000 ERC20 smart contracts have now been issued on Ethereum’s mainnet, marking a big milestone for the four-year-old blockchain platform.

Data from Etherscan.io indicates there are now 204,603 token contracts on the platform, which initially went live on July 30, 2015.

Ethereum has seen many high-profile developments in its short lifespan. The platform’s myriad of use cases includes decentralized finance, gaming platforms, initial coin offerings, digital identity, healthcare, voting, security infrastructure and more.

Some of the world’s biggest companies are building on Ethereum’s blockchain technology. Microsoft has released a suite of tools to allow developers to create Ethereum-based applications on its cloud computing service Azure.

Amazon Managed Blockchain, which allows developers to set up and manage a scalable blockchain network in a few clicks is built on Ethereum and Hyperledger.

Big four auditing firm Ernst & Young is building an open-sourced platform to power private transactions for enterprises.

JP Morgan launched its Interbank Information Network, an Ethereum-based platform, in 2017, designed to minimize “friction in the global payments process, enabling payments to reach beneficiaries faster and with fewer steps.”

The Forbes Blockchain 50 list showcases 32 major companies building on Ethereum platform.

Despite a number of rivaling blockchains, such as EOS and Tron which are vying to attract developers building decentralized applications, Ethereum, at a valuation of $24.2 billion, is second only to Bitcoin in terms of cryptocurrency market cap.

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