Coinbase, the leading cryptocurrency exchange in the United States, has highlighted the importance of accurately measuring the true adoption of blockchain technology beyond current standards.

In a recent blog post, Coinbase acknowledges the challenges in tracking the adoption of blockchain ecosystems as more applications are introduced. Traditional metrics like total transactions or daily active addresses can be distorted by spam and Sybil attacks, where multiple identities are created in peer-to-peer networks.

To overcome these challenges, Coinbase suggests using the h-index, a metric originally developed to assess the productivity and impact of scientific publications. By adapting the h-index to blockchain technology, Coinbase tracks the number of addresses that have received transactions a specific number of times.

According to Coinbase, “The h-index, originally used in academia to measure the research output and impact of a researcher, has been modified to gauge activity on blockchain networks by examining the number of addresses that have received transactions a corresponding number of times. For instance, an h-index of 100 indicates that 100 different receiving addresses have received transactions from at least 100 unique sending addresses within a specific timeframe.”

Applying this new metric, Coinbase identifies Ethereum (ETH) as the most widely adopted EVM-compatible chain, followed by Base, Arbitrum (ARB), Optimism (OP), Polygon (MATIC), Avalanche (AVAX), and Fantom (FTM). Coinbase’s analysis reveals that Ethereum and Base exhibit the highest level of user activity among those surveyed, with Arbitrum and Polygon PoS closely trailing behind.

This data, sourced from Coinbase, emphasizes the significance of accurately measuring blockchain adoption and provides valuable insights into the current landscape of EVM-compatible chains.

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