Over a decade ago, the birth of Bitcoin sparked a revolution in the digital world — and just last year, the number of active cryptocurrencies jumped from roughly 1,600 to over 3,000 worldwide.
Cryptocurrencies have now evolved past simple digital currencies, offering solutions to meet the complex needs of modern financial markets.
While the future of the new cryptocurrency economy is still taking shape, one thing is certain, cryptos are forever altering the way we view and measure the value of money.
Today’s graphic from Abra visualizes the complex, ever-evolving cryptocurrency ecosystem and its real-world applications.
The Growth of the Crypto Economy
Worldwide, the numbers show that blockchain-based technology and cryptocurrency use is growing. Blockchain wallet users rose from nearly 9 million in 2016 to over 42 million in 2019.
Developers produced a mere 100 decentralized apps (DApps) in 2015─with that number skyrocketing to over 3,100 by 2019.
Overall, cryptocurrencies are helping to create an innovative and accessible financial system around the world.
“Cryptocurrency deserves an opportunity to find a sustainable future in our economy,” says Adena Friedman, President & CEO of NASDAQ.