Top Blockchains with Number of Active Users in Q2 2024, What Are They?

Bittime - Blockchain is the most important thing in cryptocurrency. Among the many blockchains currently available, there are the top blockchains with the number of active users in Q2 2024. Want to know more? Keep following this article!

Before finding out the top blockchains with the number of active users in Q2 2024, this article will invite you to know more about blockchain. Starting from the meaning of blockchain, to how it works. Keep watching, OK!

What is Blockchain?

Blockchain is a distributed digital record that is shared among many computers in a network. It is known as an important technology in the crypto asset system, which functions to maintain security and decentralize transaction records. 

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But the use of blockchain is not limited to crypto alone. This technology can be used to make data in any industry "immutable" - meaning it cannot be changed.

The impossibility of changing data is what makes blockchain special. Trust is only required when a user or program enters data. This reduces dependence on trusted third parties, such as auditors or other humans who could add costs and make mistakes.

Since the emergence of Bitcoin in 2009, the use of blockchain has become increasingly widespread. Blockchain is now the basis for various decentralized financial innovations (DeFi), decentralized financial applications, non-fungible tokens (NFT), and smart contracts.

How Does Blockchain Work?

Maybe you are already familiar with spreadsheets or databases. Blockchain can be said to be similar to both, namely as a place to enter and store information. However, the main difference between blockchain and traditional databases/spreadsheets lies in the structure and way of accessing the data.

Blockchain consists of programs called scripts, which perform tasks such as entering and accessing information, as well as storing it. Blockchain is distributed, meaning that copies of its data are stored on many computers, and all of those copies must be the same for the data to be considered valid.

Think of the Bitcoin blockchain as a collection of 4MB files called “blocks” (block sizes can be different in each blockchain). Each full block is encrypted into a unique code called a "hash". 

This hash is then inserted into the next block and encrypted again along with the information in that block, thus forming a block chain (blockchain).

What does "Active Address" or Active User mean in Blockchain?

An address is considered active if it is directly involved in a successful transaction. Both as sender and recipient. 

Therefore, active addresses are a reliable indicator for measuring the number of daily users on a blockchain. In other words, active addresses represent the number of active users on the network.

For example, monthly active addresses show every user who has sent or received crypto in a given month. Even if an address actively participates in two or more transactions, it will only be counted once for a certain period of time.

A new address is considered active if its transaction participation occurs "on-chain", that is, a crypto transaction that is successfully documented and verified via the blockchain. On-chain transactions are always recorded across all blockchain networks, including consortium, private, public, and hybrid blockchains.

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Conversely, participation in “off-chain” transactions does not qualify to be considered an active address. The reason is, off-chain transactions are not recorded on the blockchain. Off-chain transactions usually use standard P2P delivery methods such as exchanging private keys and connecting them to a new wallet.

Top 15 Blockchains with the Most Active Addresses in Q2 2024

Based on a report from CryptoRank, here are the top 15 blockchains with the highest number of active addresses in the second quarter of 2024:

1. Tron (TRX): 181 Million
2. NEAR Protocol (NEAR): 168 Million
3. Solana (SOL): 124 Million
4. Polygon (MATIC): 109 Million
5. BNB Chain (BNB): 98.0 Million
6. Arbitrum (TREE): 53.3 Million
7. Sui Network (SUI): 44.1 Million
8. Bitcoin (BTC): 39.6 Million
9. Ethereum (ETH): 37,5 Million
10. Base (BASE): 35.0 Million
11. zkSync (zKS): 27.1 Million
12. Whole (Whole): 25.9 Million
13. TON Blockchain (TON): 25.8 Million
14. Linea Blockchain (LINA): 21.4 Million
15. Aptos (APT): 12.1 Million

This list shows that the blockchain with the highest number of active addresses is not always the same as the most popular blockchain.

Conclusion

Blockchain technology has revolutionized the way we transact and interact with digital data. Its ability to create secure, transparent and decentralized systems makes it a solid foundation for innovations in various fields.

The list of top blockchains with their number of active users in Q2 2024 provides a glimpse into the dynamic blockchain landscape. 

However, keep in mind that active addresses are only one metric for measuring blockchain health. Other factors such as total transaction value, number of developers, and level of innovation also need to be considered.

So, that's the discussion regarding the top blockchains with the number of active users in Q2 2024. Hopefully this is useful!

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.