2017年Q3区块链现状报告（英文版）_114页-3mb

Summary of the State of Blockchain Q3 2017

Core Content

Q3 2017 marked a significant period of growth and development for the blockchain industry, characterized by rising market capitalization, increased trading volumes, and the emergence of new projects and investment opportunities. Despite regulatory challenges, the market continued to boom, reaching an all-time high of over $170 billion in total cryptocurrency market cap. Key metrics such as hash rate and transaction volume saw substantial increases, while the popularity of blockchain terms surged in Google searches.

Main Points

• Market Growth: The total cryptocurrency market cap increased by over 50%, reaching an all-time high above $170 billion. This growth was driven by both ICOs and venture capital (VC) investments, with ICOs surpassing VC funding for the first time in the quarter.
• Bitcoin Performance: Bitcoin broke the $5,000 mark, reasserting its market dominance over other cryptocurrencies. It experienced a soft fork with Segregated Witness (SegWit) and a hard fork resulting in Bitcoin Cash. The hash rate reached a new all-time high, though it briefly dropped due to competition.
• Ethereum Developments: Ethereum saw a record number of transactions and launched the Byzantium testnet. Despite a slowdown in value growth compared to Q2, it maintained high transaction volumes and was the subject of increased interest.
• Enterprise Blockchain Initiatives: The Enterprise Ethereum Alliance expanded, with 10 law firms joining. R3 launched Corda v1.0, and Microsoft and Hyperledger worked on interoperability solutions. Major cellular providers like Sprint and SoftBank formed the Carrier Blockchain Study Group to explore blockchain applications.
• Investment Trends: ICOs raised over $1.24 billion, with Filecoin and Tezos leading the way. Coinbase raised $100 million, becoming the first blockchain unicorn. Over 100 crypto hedge funds were launched, indicating a growing sophisticated buy side.
• Regulatory Developments: The SEC published ICO guidance, and the U.S. Congress tabled the Virtual Currency Tax Act. China imposed a crackdown on ICOs and cryptocurrency exchanges, leading to their shutdown by the end of Q3.

Key Information

• Market Cap: Reached over $170 billion in Q3 2017, with Bitcoin and Ethereum being the leading assets.
• Trading Volume: Global trading volumes increased, with JPY and USD dominating, and KRW showing significant growth.
• Transaction Growth: Ethereum set a new record for daily transactions, while Bitcoin transaction fees rose sharply.
• Forks and Innovations: Bitcoin Cash emerged from a hard fork, and SegWit was implemented via a soft fork. Ethereum's testnet and new projects like Quilt and Sawtooth showcased innovation.
• Investment Figures:
  • ICOs: Total funding reached $1.24 billion, with Filecoin ($262 million) and Tezos ($232 million) as the top projects.
  • VC: Total funding reached $156 million, with Coinbase ($100 million) and Bitmain ($50 million) as the top deals.
• Regulatory Impact: Increased regulatory scrutiny and activity, including the SEC's guidance and China's crackdown, influenced market dynamics.
• Sentiment: Over 83% of investors checked prices daily, with 50% checking compulsively and 33% every hour, indicating high market interest and engagement.

Investment Highlights

• ICOs:
  • Filecoin: $262 million
  • Tezos: $232 million
  • TenX: $83.1 million
  • MobileGo: $53.1 million
• VC Deals:
  • Coinbase: $100 million
  • Bitmain: $50 million
  • Conjoule: $4.5 million
  • Bitcoin.com.au: $0.8 million

Sentiment Survey

• BTC Sentiment: Viewed as a hedge against monetary policy, with high daily engagement.
• Investor Behavior: 83% checked prices daily, showing strong interest and market participation.

Enterprise Blockchain

• Enterprise Ethereum Alliance: Expanded to include 10 law firms and made legal and organizational strides.
• R3's Corda v1.0: Launched with a focus on cross-border payments, identity management, and trade finance.
• Hyperledger: Added notable members like Baidu, Cisco, and Oracle, and launched educational initiatives.
• Coco Platform: Aims to simplify enterprise blockchain transactions and governance.

Conclusion

Q3 2017 was a pivotal quarter for blockchain, marked by significant market growth, regulatory developments, and enterprise adoption. The industry saw a surge in investment and innovation, with both public and enterprise blockchains evolving rapidly. Despite challenges, the momentum continued to build, setting the stage for further growth and mainstream adoption.