On November 9, 105,935 Ethereum addresses were registered creating a new record after Segwit2x backers announced not to change the Bitcoin blockchain protocols.
The record-breaking news of Ethereum users was reported by Etherscan.io, a website that tracks and analyzes data related to the Ethereum blockchain. The distinct addresses rose to 10,737,345 after this.
This increase occurred after the apparent cancellation of Segwit2x, a hard fork that was proposed to introduce changes in Bitcoin blockchain platform’s constituent code by including doubling the block size. This plan had caused a lot of controversies among Bitcoin community before implementation.
In addition, this blockchain processed about 44% more transactions than the Bitcoin blockchain within 24hours on November 8. It’s still unclear that the abandonment of Segwit2x will lead to shift in market preferences from Bitcoin to Ethereum. Even though the announcement raised prices of Ether dramatically, by November 10 it has likely returned to roughly pre-cancellation levels.
Meanwhile, Bitcoin plans to generate future second-layer solutions to their platform to increase transaction processing speed by allowing certain operations to be performed off the primary chain.