Stability in the Ethereum network

After the hard fork of Ethereum that happened on the 16th of October, the community seems more united, judging by the record number of transactions handles by Ethereum with speed and no delays. The network now boasts low fees and no congestion.

According to Cryptoinvest, the Ethereum network manages almost half a million transactions daily, which signal a big increase from what the network could do prior to the Byzantium fork.

The Ethereum network is expected to manage smoothly up to 1 million transactions every 24 hours, and some even believe that this number is currently 2 million, although there are traffic issues and slow-down.

Christine Masters, a Cryptoinvest author, reported that Ethereum now surpasses Bitcoin in number of transactions handled per day. She says:

“It is conceivable that the Ethereum network is busier, given that it handles not only payments and transfers, but also some smart contracts, a few decentralized apps and the general movement not only of ETH tokens, but also all ERC-20 tokens.” 

The price of Ethereum has seen its spikes in the last few weeks, with slight fluctuations around the $300 level. Investing Heaven estimates the price of Ethereum to reach an all-time high of $1,000, taking into consideration the extensive application network of Ether.

Read Also: