Blockchain Usage Poll Results Are In

In December 2022, economist and market analyst Alex Kruger conducted a series of Twitter polls to measure the usage level for various blockchains. Kruger specifically asked respondents to consider their use of Bitcoin, Ethereum, Cardano, Solana, Avalanche, Polygon, Ripple, Litecoin, Dogecoin, and Tron blockchains since 2021.

The polls defined usage as any action that involves the blockchain beyond simply holding or trading the associated cryptocurrency on an exchange. Examples of usage included cross-exchange transfers, mining, and running nodes. In this analysis, we will examine the results of Kruger's polls and attempt to conclude the real-world adoption and usage of these blockchains.

Bitcoin

According to Kruger's poll, 46.9% of respondents had never used the Bitcoin blockchain since 2021, while 28.3% had used it less than once per month. A smaller percentage of respondents reported using the Bitcoin blockchain more frequently, with 16.9% saying they had used it a few times per week and 7.9% saying they had used it a few times per month.

It's worth noting that the Bitcoin blockchain is the oldest and most well-known of the blockchains included in Kruger's polls, and it has a significantly larger user base than any of the other blockchains. As such, it's not surprising that a higher percentage of respondents have used it in some capacity. However, the relatively low percentage of respondents who have used the Bitcoin blockchain more than a few times per month suggests that most Bitcoin holders are either simply holding their coins as a long-term investment or trading them on exchanges rather than actively using the blockchain for other purposes.

Ethereum

Kruger's poll on the Ethereum blockchain yielded similar results to the poll on the Bitcoin blockchain, with 41.3% of respondents saying they had never used it since 2021. A slightly larger percentage of respondents reported using the Ethereum blockchain less than once per month (24.4%), while 18.1% said they had used it a few times per month, and 16.2% said they had used it a few times per week.

Like the Bitcoin blockchain, the Ethereum blockchain is a well-known and widely used platform. Still, the poll results suggest that a significant portion of its user base only actively uses it by simply holding or trading the associated cryptocurrency. However, the percentage of respondents who reported using the Ethereum blockchain more frequently (a few times per week or a few times per month) was higher than the corresponding percentage for the Bitcoin blockchain, indicating that Ethereum may have a somewhat higher level of real-world usage than Bitcoin.

Cardano, Solana, Avalanche, and Polygon

• The poll results for the Cardano, Solana, Avalanche, and Polygon blockchains showed significantly lower usage than the Bitcoin and Ethereum blockchains. For Cardano, 73.5% of respondents said they had never used it since 2021, while 7.9% had used it less than once per month, 5.5% had used it a few times per month, and 13.1% had used it a few times per week. For Solana, 63.7% of respondents said they had never used it, while 16.6% had used it less than once per month, 7.1% had used it a few times per month, and 12.6% had used it a few times per week.
• The poll results for the Avalanche blockchain showed that 4.7% of respondents used the blockchain a few times per week, 5.3% used it a few times per month, 15% used it less than once per month, and 75% never used it.
• The poll results for the Polygon blockchain showed that 29.8% of respondents used the blockchain a few times per week, 6.9% used it a few times per month, 16.7% used it less than once per month, and 46.6% never used it.

Dogecoin, Tron, and Ripple

• The poll results for Dogecoin showed that 0.8% of respondents used the Dogecoin blockchain a few times per week, 0.7% used it a few times per month, 5.6% used it less than once per month, and 92.9% never used it.
• The poll results for Tron showed that 1.8% of respondents used the Tron blockchain a few times per week, 3.1% used it a few times per month, 8.4% used it less than once per month, and 86.7% never used it.
• The poll results for Ripple showed that 1.5% of respondents used the Ripple blockchain a few times per week, 1.6% used it a few times per month, 4.1% used it less than once per month, and 92.7% never used it.

Interpretation of The Results

Overall, these poll results indicate that while some blockchains, such as Bitcoin and Ethereum, have relatively high usage rates among respondents, others, like Avalanche and Polygon, have much lower usage rates.

One possible explanation for the differences in usage rates among these blockchains is their intended use cases. For example, Bitcoin and Ethereum are both widely used for various purposes, including as a store of value, a medium of exchange, and a platform for building decentralized applications. In contrast, blockchains like Avalanche and Polygon may have more specialized use cases that appeal to a smaller subset of users.

Additionally, the level of adoption and awareness of different blockchains may also play a role in their usage rates. Bitcoin and Ethereum, for example, are two of the most well-known and widely used cryptocurrencies. At the same time, blockchains like Avalanche and Polygon may have a different level of brand recognition or user base.

Based on the results of these polls, it appears that the most widely used blockchain among the listed options is Ethereum, with 41.3% of respondents stating that they had never used it. Bitcoin was the second most popular, with 46.9% of respondents saying they had never used it. The blockchains with the lowest usage among respondents were Dogecoin, Tron, and Ripple, with 92.9%, 86.7%, and 92.7% of respondents, respectively, saying they had never used them. Regarding usage frequency, the most frequently used blockchain was Ethereum, with 16.2% of respondents saying they had used it a few times per week. The blockchains used the least frequently were Litecoin, Dogecoin, and Tron, with only 1%, 0.8%, and 1.8% of respondents, respectively, saying they had used them a few times per week.

These results should be interpreted with caution, as the sample size and demographics of the respondents may not be representative of the overall blockchain user population. However, they provide some insight into the relative usage levels of these different blockchains.